Press release
Bulk Material Handling System Market: Global Industry Analysis, Size, Share, Growth, Trends And Forecast 2021-2031
As per Future Market Insights (FMI) analysis, the bulk material handling system market revenue is expected to reach US$ 5.1 Bn in 2021. Incorporation of remote user connectivity and interface in equipment and use of telematics based services by original equipment manufacturers (OEMs) will drive the market, yielding a year-on-year growth of 2.10% in 2021.The global sales of bulk material handling system are forecast to grow from 13,000 units in 2021 to over 14,000 units by the end of 2031. FMI projects moderate growth for bulk material handling system market at an overall compound annual growth rate (CAGR) of 2% between 2021 and 2031.
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Key Takeaways of Bulk Material Handling Systems Market Study
• Key players focus on expansion of footprint in the developing countries, which also involves moving new products into new markets such as the Middle East, China and India where construction industry registered a double digit growth in the past decade.
• As per the recent trend in the mining industry in the Americas and Asia Pacific, the demand for bulk material handling systems is expected to be from open or surface pit mining especially for coal and ferrous mining.
• Since the rental and leasing service is a strong aspect of the bulk material handling systems market, many players have incorporated rental services as business segment while directly selling bulk material handling systems.
• Band conveyor and stackers have been identified as the most recognizable bulk material handling systems as they are capable of accomplishing various tasks such as stock piling and transportation, particularly in packaging and manufacturing end use industries.
“Rental services play a pivotal role in the bulk material handling systems market, as these equipment are capital intensive. Hence, to gain profits in this market, players can focus on offering rental and leasing services while also directly selling bulk material handling systems,” says an FMI analyst.
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By Segmentation:
Application
• Mining
• Packaging
• Construction
• Manufacturing
• Sea Ports & Cargo Terminals
Equipment
• Stacker
• Stacker Reclaimer
• Band Conveyor
• Bucket Wheel Excavator
• Stripping Shovel
• Rope Shovel
• Bucket Elevator
• Ship Loader and Unloader
Region
• North America
• Europe
• Latin America
• APAC (Asia Pacific)
• MEA (Middle East & Africa)
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Bulk Material Handling Systems: Competition Scenario
The bulk material handling systems market is assessed to be fragmented market, where market players such as Hitachi Construction Machinery Co., Thyssenkrupp, Kawasaki Heavy Industries, Ltd., Liebherr Group, and Sumitomo Heavy Industries are estimated maintain their dominance in the market throughout the forecast period, and have strong order inflow.
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Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights and an aerial view of the competitive framework and future market trends.
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